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NewJeans found itself embroiled in yet another controversy as Money Today reported that a major brand has dropped the group as its model. The decision has sparked an uproar among fans, with many attributing the move to the ongoing contract conflict between the girl group and their agency, ADOR.
On December 14, 2024, Money Today reported that Shinhan Financial Group did not renew its advertising contract with the Attention girl group. In 2023, Shinhan Financial Group released the super app Super SOL, which combines the primary features of Shinhan Bank's Card, Securities, Life, and Savings Bank apps.
The Ditto girl group was signed by the Shinhan Financial Group for all its affiliates. For Shinhan Bank and Shinhan Card, the contract with the group is valid until the end of December 2024. However, for Shinhan Investment & Securities, it is valid until March 2025. Reportedly, the brand didn't renew any of these contracts.
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An official representative of Shinhan Financial Group stated:
"The Super SOL brand advertising contract with New Jeans will not be extended once it ends in December. However, model contracts are by product and affiliate, so the existing NewJeans advertisements will be released until March."
The latest controversy came amidst the fallout between the group and ADOR, seemingly impacting the group’s business partnerships. Although the specific brand name has not been officially disclosed, some netizens speculated that their decision to drop the girl group as models was tied to their ongoing conflict. One X user wrote on X:
"We all knew this was going to happen"
Fans took to social media to express their views on the ongoing controversy. Some speculated that since the group terminated their contract with ADOR, they could no longer use their official group name due to legal issues. Hence, advertising contract renewals might have taken a backseat due to this.
"To be fair, their name is, at least right now, not NewJeans, so it’s understandable. Also, I’m not from Korean so this is the 1st time I’m hearing about the financial firm, so idk if this is even a big deal or not. Finally, I believe their contract ended so…" one fan wrote.
"Because they're no longer using the name 'newjeans' legally anymore... why is this a suprise? of course companies can't renew their contract when the group has already terminated their contract." another fan said.
"NewJeans are no longer using NewJeans atp so yeah Shinhan Financial won't be renewing contract with NewJeans atm BUT Shinhan Financial will definitely do offer them a contract again once the girlies had their NEW NAME," one other fan added.
Others shared a different perspective, underscoring the group's abrupt contract termination with ADOR.
"Newjeans members are no longer operating as Newjeans. It's literally impossible to renew a contract for Newjeans at the moment..... this is retarded media play." one fan said.
"Why would anyone offer them contracts when they can terminate it unilaterally," another fan added.
"Who Will make a deal with them if they can end a contract just because someone didnt said hi," one other fan remarked.
NewJeans' contract dispute with ADOR, Min Hee-jin's resignation, and KMCA's warning to the group
The group’s dispute with ADOR began escalating when NewJeans announced they would terminate their exclusive contracts unless Min Hee-jin, ADOR’s former CEO, was reinstated. The group placed their demands via a signed certified letter sent to HYBE and ADOR on November 13, 2024.
Min Hee-jin was previously fired in August 2024 amid an internal conflict with HYBE Corporation, ADOR’s parent company, over allegations of misuse of power and financial discrepancies. Min Hee-jin was rehired as an inside director on October 17. However, she formally resigned on November 20, 2024.
The Cookie girl group publicly stood by Min Hee-jin, claiming she was central to their artistic vision and management. The members stated they would terminate their contracts unless she returned as CEO, a position HYBE refused to grant her.
On December 5, ADOR took the dispute to court, filing a lawsuit to validate the legality of the group's contracts to prevent what they called "unilateral termination" by the artists.
As the legal battle played out, the Korea Music Content Association (KMCA) issued a warning to the Attention girl group, urging the group to abide by their contracts, according to SPOTV News.
On December 13, the KMCA stated that disregarding legally binding agreements could harm industry standards and relationships, urging all parties to resolve the matter amicably while adhering to established laws and practices.
"New Jeans must ensure the faithful performance of the exclusive contract and negotiate with the agency through sincere dialogue, but if an agreement cannot be reached, they must humbly await the judgment of the judiciary. New Jeans are not the only ones in the popular music industry."
In other news, NewJeans created a new Instagram account, jeanzforfree, on December 14, 2024. Their first post was preparing packaged meals for their fans who went to the impeachment rally before President Yool Suk-yeol's impeachment vote the same day.
